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IShares ESG fund suffered 91% drop in assets under management this week -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – The BlackRock logo can be seen outside the headquarters of New York City in Manhattan, New York City. This was taken on May 25, 2021. REUTERS/Carlo Allegri

(Reuters) – According to public data, the iShares ESG MSCI EM Leaders ETF experienced heavy outflows last week. This resulted in a tenfold decrease in assets. The exchange-traded fund focuses on emerging market companies and sustainable investments.

This fund has a large number of shares remaining, and it is performing poorly compared to its benchmark. Top three holdings: Taiwan Semi, Tencent, and Alibaba (NYSE:) dropped over 91% from 13.9million Dec. 22 to 1.2million Monday.

Now, the fund manages approximately $74 Million in net assets, as opposed to 10 times earlier in this month.

BlackRock (NYSE :), which is the largest money manager in the world and owns iShares did not respond immediately to a request.

Refinitiv reports that the number one investor was Finland’s Ilmarinen Mutual Pension Insurance Company, which owned 13,000,000 shares of the ETF as of September.

By Thursday’s 1516 GMT, the fund had increased 0.9%. The fund has seen a 3.5% decline in its performance this year, and the MSCI EM Extended ESG Leaderships 5% Issuer Capped index is up 0.6%.

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